Corrected: US Dec acrylonitrile rises slightly on feedstock costs

16 January 2013 21:10  [Source: ICIS news]

Correction: In the ICIS news story headlined "US Dec acrylonitrile rises by 13% on feedstock costs" dated 16 January 2013, please read the headline as "…rises slightly…" instead of "…rises by 13%…"

Please read in the first paragraph …increased slightly… instead of … increased by 13%…

Please read in the second paragraph …96.55-100.39 cents/lb ($2,129-2,213/tonne, €1,596-1,660/tonne)… instead of …108.45-112.29 cents/lb ($2,391-2,476/tonne, €1,793-1,857/tonne)….

Please read in the third paragraph …The increase was caused by slightly higher feedstock costs, with the December contract price for chemical grade propylene (CGP) settling an increase of 1 cents/lb.… instead of …The increase was caused by higher feedstock costs, with the January contract price for chemical grade propylene (CGP) settling early on Tuesday at an increase of 15 cents/lb.….

Please read in the fifth paragraph …The January contract price could rise significantly as tight supplies and firm demand were behind the rise of the CGP contract price to 71.50 cents/lb for January propylene.… instead of …Tight supplies and firm demand were behind the rise of the CGP contract price to 71.50 cents/lb.….

Please read in the sixth paragraph …Market sources said they would not be surprised by the potential increase… instead of …Market sources were not surprised by the increase….

Please read in the ninth paragraph …potential increased cost… instead of …increased cost….

A corrected story follows.

HOUSTON (ICIS)--The formula-based US acrylonitrile (ACN) December contract price increased slightly from the November contract level, sources said on Wednesday.

The December price range is 96.55-100.39 cents/lb ($2,129-2,213/tonne, €1,596-1,660/tonne) DEL (delivered), while the November range was 95.63-99.54 cents/lb.

The increase was caused by slightly higher feedstock costs, with the December contract price for chemical grade propylene (CGP) settling an increase of 1 cents/lb.

Propylene is a key feedstock for ACN.

The January contract price could rise significantly as tight supplies and firm demand were behind the rise of the CGP contract price to 71.50 cents/lb for January propylene.

Market sources said they would not be surprised by the potential increase in ACN contract prices.

Some sources, however, were surprised that propylene contract prices settled as high as they did.

The ACN export free on board (FOB) contract price range is 71.44-73.71 cents/lb.

The potential increased cost will be felt downstream as well, as markets such as acrylic fibre (AF), acrylonitrile-butadiene-styrene (ABS), nylon 6,6 and others will feel the impact of higher ACN costs.

North American ACN producers include Ascend Performance Materials, Cornerstone Chemical, INEOS Nitriles and Unigel.



By: Wesley Busch
+1 713 525 2653



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